Federal Direct Subsidized Loan

Who is eligible?

Undergraduate students based on financial need.

How do I apply?

BHSU will send you an award letter indicating your maximum Direct William D. Ford Loan eligibility and will provide you with instructions on how to apply. Please review Award Handbook, If questions, contact the Financial Aid Office.

Amount Available

Maximum Annual Eligibility (beginning July 1, 2007):

Freshman -- $3,500

Sophomore -- $4,500

Junior/Senior -- $5,500

Cumulative Totals:

$23,000 undergraduates

Additional unsubsidized available for Independent Students

Cost & Fees

up to 1.1% fee on each loan.

Interest is paid by federal government during the grace period on loans disbursed prior to July 1, 2012. After July 1, 2012, all new loans interest begins at time of dropping below half-time/graduation.

Repayment

Interest rate is a fixed of 3.86% beginning July 1, 2013 for undergraduate students.
New interest rate will be determined each July 1st of each year, with that interest rate fixed for lifetime of loan.

Interest is paid on the Subsidized Direct Loan by the federal government while the student is in school; beginning July 1, 2012 new loans will NOT have interest paid during the grace period or deferment periods.